HELSINKI: Cheap Nordic electricity has resulted in a reversal of the traditional energy relationship between Finland and its eastern neighbour, with exports to the St Petersburg region beginning on Sunday.
National energy operator Finngrid’s Yllikkälä exhange, close to the Russian border. Image: Fingrid
Energy imports will begin flowing into Russia from Finland for the first time this Sunday, following the signing of a new deal between the two countries.
Finland’s national network operator, Fingrid, say that they will begin providing 140 megawatts of energy from Sunday over 13 hours, from 9am to 10pm.
“The price of electricity has been so low here in the Nordics that it’s profitable for Russia to bring it in. It’s the market price that has made this deal,” Fingrid’s planning chief Timo Kaukonen said.
The current low price of Nordic electricity is partly the result of a hydroelectric power surplus following the end of winter. Wind power is also becoming more widespread, in addition to the energy generated by nuclear plants.